Google Optimistic about Recovery, Resumes Hiring and Spending

Posted 10/08/2009 at 6:21am | by Paul Lilly

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During the opening moments of a New York City press conference, Google CEO Eric Schmidt ensured anyone who would listen that things are looking up and the worst is over.

"We are clearly seeing aspects of recovery, and what is notable is that we're seeing aspects of recovery not just in the United States, but in Europe," Schmidt said. "I had been in error in assuming that there would be a lag, that it would be the U.S. first and Europe second. Asia, of course was never significantly hit in the first place."

Schmidt went on to say that, from a Google's perspective, his company "never stopped hiring" and that the company is increasing its hiring rate and investment rate "in anticipation of a recovery."

This is similar to what Intel's Chuck Mulloy told us several months back when asked what effect the recession would have on technology development and future roadmaps. During a phone interview, Mulloy said Intel understands "you can't save your way out of a recession; you spend your way out," and that appears to be the same philosophy Google is following.

Schmidt also covered a variety of other topics during the press conference, which you can check out here.